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Feb 5, 2013
02/13
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that china had another up day and china in, after having a bad year last year, has had a fantastic run since november. i think we're up 20% of the floor and it looks to me as though the chinese market is developing serious positive momentum. and, of course, japan is on its own mission, as well. so i don't think they necessarily depend on what's going on in the u.s. market where things could be a bit choppy for a while. >> okay. well, jim, as always, we appreciate your time and we look forward to talking to you again soon. again, jim o'neill. >> good day. have a good day. >>> coming up, the u.s. government filing civil charges against the s&p. it's all tied to bond ratings and the financial crisis. jacob frankel is going to tell us what to think about this since the break. what's the one thing that surprises you about this story? >> the department of justice is the lead agent filing this lawsuit and not the s.e.c. ♪ [ male announcer ] how could a luminous protein in jellyfish, impact life expectancy in the u.s., real estate in hong kong, and the optics industry in germany? at t. rowe
that china had another up day and china in, after having a bad year last year, has had a fantastic run since november. i think we're up 20% of the floor and it looks to me as though the chinese market is developing serious positive momentum. and, of course, japan is on its own mission, as well. so i don't think they necessarily depend on what's going on in the u.s. market where things could be a bit choppy for a while. >> okay. well, jim, as always, we appreciate your time and we look...
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Feb 19, 2013
02/13
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he's doing unbelievable things in china. >> indiana is where china was ten years ago. and look at the population in ind india. beef is a restricted product for spiritual, religious reasons. so you've got great market opportunity there. and india is becoming a rapidly developing country. so -- >> chicken you mean. >> this guy has put to the a superb management team, if you look at taco bell he has a new product. last year they had this taco selling like hotcakes and not cannibalizing the basic taco they have on the menu. so, look, i think yum brands, i've owned it for 15 years, it's the best stock i've owned in those 15 years. >> really? >> oh, yeah, it's gone from 2, 64 so the $250 from 97 till now that ain't bad. >> i would invest in any, you know, mexican foodmaker. previous, i would meet it three meals a day. >> eli lilly, i think -- >> not what i'm -- >> not the refried beans. >> they don't like me. you know that. >> i know. >> eli lilly is challenged. i they they're doing a magnificent job of navigating it through the cliff, so to speak. i believe when you spend $
he's doing unbelievable things in china. >> indiana is where china was ten years ago. and look at the population in ind india. beef is a restricted product for spiritual, religious reasons. so you've got great market opportunity there. and india is becoming a rapidly developing country. so -- >> chicken you mean. >> this guy has put to the a superb management team, if you look at taco bell he has a new product. last year they had this taco selling like hotcakes and not...
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Feb 12, 2013
02/13
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but markets in china, taiwan remain closed. north korea says a miniaturize ed nuclear missile was tested. the u.s. ambassador to south korea responding to all of this. >> it's a very provocative act that undermines regional peace and stability and i think it would be critical for us to coordinate very closely with you and our colleagues in south korea going forward. >> we're going to talk more about washington's reaction and what this all means for geouncertainty and our guest hosts for this hour, jared bernstein who works as the chief economist for joe biden. tony is joining us and capital alpha markets managing director chuck gabriel. they're also going to talk state of the union. john harwood sat down with dave axlerod yesterday. he will join us. later we're going to be joined by valley jarrett, denny hoyer and jeb hensarling. and our corporate newsmaker of the morning, mutar kent, the coca-cola chairman and ceo set to talk earnings and outlook, that's all coming at 8:00 a.m. eastern. but first, michelle has this morning's h
but markets in china, taiwan remain closed. north korea says a miniaturize ed nuclear missile was tested. the u.s. ambassador to south korea responding to all of this. >> it's a very provocative act that undermines regional peace and stability and i think it would be critical for us to coordinate very closely with you and our colleagues in south korea going forward. >> we're going to talk more about washington's reaction and what this all means for geouncertainty and our guest hosts...
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Feb 7, 2013
02/13
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you need a china partner to connect all these markets to china to the u.s. and latin america. and this merger won't fix that problem. they're going to figure other ways of doing it. right now, their competitors have an advantage of slowing that traffic and is it's going to be huge. >> i understand there's been some disagreement from both sides as to what the potential benefits would be of this merger with regard to the cost savings and the additional revenues. do you have an estimate on how many it would save? >> you know, all of these mergers have said they're going to save the world, let alone money. in this case, i think you'll see a couple of headquarters, but ov overall, it's end to.end. the real issue is the revenue stream and the increases in revenue streams by putting these airlines together. >> american express membership miles, they work on us airways, don't work on american. what will happen? >> i don't know. they better be or i'll be ticked. >> it's a generous people. >> there's a lot of people in the audience who want to know the same thing. that's frankly all i c
you need a china partner to connect all these markets to china to the u.s. and latin america. and this merger won't fix that problem. they're going to figure other ways of doing it. right now, their competitors have an advantage of slowing that traffic and is it's going to be huge. >> i understand there's been some disagreement from both sides as to what the potential benefits would be of this merger with regard to the cost savings and the additional revenues. do you have an estimate on...
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Feb 20, 2013
02/13
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or india. >> have you made investments in china or india? >> i have. they're both very exciting places. india is a democracy, very vibrant but very difficult to get things done. china is not a democracy, quite opaque. so in that sense, quite scary. on the other hand, you can make long term investment s and the environment is much more friendly in terms of being effectiv effective. >> go ahead. >> i had the great time yesterday with nicholas. we were just chatting for a while in his apartment and we aligned on a bunch of things. i thought it was interesting when he was looking at thei u.s he also thought there was a need for revenues and itemized deductions to be changed. >> rented apartment. >> rented apartment. sounds like you had an apartment. it's a rented apartment. he doesn't own the apartment. he's a homeless billionaire. >> actually, i'm in a hotel. >> it's an apartment. you're ruining our whole -- that it's like an apartment. >> like the size of my house. >> he also is quite negative on europe. was interesting when we were speaking t
or india. >> have you made investments in china or india? >> i have. they're both very exciting places. india is a democracy, very vibrant but very difficult to get things done. china is not a democracy, quite opaque. so in that sense, quite scary. on the other hand, you can make long term investment s and the environment is much more friendly in terms of being effectiv effective. >> go ahead. >> i had the great time yesterday with nicholas. we were just chatting for a...
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Feb 14, 2013
02/13
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when you think about china, and you think about china's strength, and you think about us, in 2009, china made half as many cars as we were making. now they're on pace to make 50% more cars than we make. so you see how fast that thing is changing. so china's going -- is going to be getting stronger. i mean there's no question in the last three months, we've seen more strength in china. but we got one big problem. we got an economy running along at 2%. john chambers was on yesterday talking about that. but we've got people taking regulation, talked about this before, but they've now unleashed. they're thrown into the sand, as the wheels, piles of sand of regulation. now let me tell you philosophically, the president gave a talk, the state of the union message, all right? talked about all these growth initiative initiatives what do you think the regulatory environment is like? why would this administration, what's called a regulatory union, that's just come out, and the administration in april, and in the fall, is required to lay out the regulations for the next period. why did we get no re
when you think about china, and you think about china's strength, and you think about us, in 2009, china made half as many cars as we were making. now they're on pace to make 50% more cars than we make. so you see how fast that thing is changing. so china's going -- is going to be getting stronger. i mean there's no question in the last three months, we've seen more strength in china. but we got one big problem. we got an economy running along at 2%. john chambers was on yesterday talking about...
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Feb 21, 2013
02/13
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and it did over $3 million in china for three days. so we had different films playing in japan and all over the world. and it aggregated that story. >> what's your margin on a high profile film like a "die hard" versus a lower profile film? >> it's hard to talk about margin unless you talk about box office because there's a fixed cost of converting the films into imax. once you pay that fixed cost it just depends on how big the box office is. but you know, for example the one in china, that margin will be quite good because the box office already up to $7 million in a week. >> right. the chatter on all the message boards is whether "star trek" is going to be imax. >> you may mean "star wars." >> i'm sorry, early in the morning, too. i apologize. >> because "star trek" is being shot in imax. all the exterior scenes, j.j. abrams is using imax cameras for. the reason for the chatter is j.j. is also directing "star wars." so a lot of the fans are hoping that's the case. i mean the problem is the script hasn't been written yet. i think j.j.
and it did over $3 million in china for three days. so we had different films playing in japan and all over the world. and it aggregated that story. >> what's your margin on a high profile film like a "die hard" versus a lower profile film? >> it's hard to talk about margin unless you talk about box office because there's a fixed cost of converting the films into imax. once you pay that fixed cost it just depends on how big the box office is. but you know, for example the...
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Feb 8, 2013
02/13
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china is going to have strong, indigenous suppliers. yes, apple will be in the market. but i don't think it's a case anymore where people are saying the only choice i have if i want to be cool is apple. i think that's probably the fundamental. in the u.s., certainly you can look at it and say android has gotten, you know, a good foothold. you've got plenty of people making it. i'm just suggesting it's really hard to carry on what they've carried on. the amount of value alcohol has collapsed into themselves from the entire mobile market, carriers, and providers alike, is pretty amazing. >> you might think if steve jobs were still around maybe you'd think, there will be the next thing that you're able -- >> sure force of personality, you have to -- >> there are so many talented people there. >> i remember the razr. i didn't think anyone would ever migrate and within five years people said motorola makes phones? >> exactly. >> and you know, you have -- >> this is a very short cycle business where fashion is important, cool is important, and you can sort of see now that peo
china is going to have strong, indigenous suppliers. yes, apple will be in the market. but i don't think it's a case anymore where people are saying the only choice i have if i want to be cool is apple. i think that's probably the fundamental. in the u.s., certainly you can look at it and say android has gotten, you know, a good foothold. you've got plenty of people making it. i'm just suggesting it's really hard to carry on what they've carried on. the amount of value alcohol has collapsed...
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Feb 1, 2013
02/13
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and global news, average home prices in china's 100 biggest cities was 1% in january from december. and it marks the eighth consecutive marketing rise. two other surveys show growth was weak and the economists caution the country could set a tradeback if trade or government weaken. >> we're here for a lot of reasons, but one thing we need to talk about for an advertising, guys, is there anything better to tuz on than the super bowl? >> no. and it's gotten more important. ite become the academy awards of advertising. first of all, viewership is up. about 111 million people will watch it. crisis is up more than 7%. >> more people watch the laugh time or the gain 12347. >> yes. >> i always thought that was when everybody went to the bathroom. >>. >> you go to the kitchen, you get a drink, you do all sorts of things during halftime. >> $3.75 million for a 30-second spot. people have paid over $4 million. price of ads is up 60% over the last decade. they're also sold out almost a half a billion dollars of ads spend for this super bowl. there will be about 78 advertisers. and i think the
and global news, average home prices in china's 100 biggest cities was 1% in january from december. and it marks the eighth consecutive marketing rise. two other surveys show growth was weak and the economists caution the country could set a tradeback if trade or government weaken. >> we're here for a lot of reasons, but one thing we need to talk about for an advertising, guys, is there anything better to tuz on than the super bowl? >> no. and it's gotten more important. ite become...
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Feb 27, 2013
02/13
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there's a lot of controversy about how china is and what is the underlying strength of china. >> housing comes back here, better but doing better on a lot of fronts but we need trading partners. >> we need consumption of emerging markets to pick up. >> it won't be europe. >> we need asia and latin america. we need those guys to pick up. these things are all linked. if china doesn't pick up more meaningfully, there's the spillover back to brazil, spi spillover to all, spillover to commodity exporters relying on china. it is -- you know, it's interesting all of them have been revising global growth down not up. >> in italy, i feel bad for the italian people, their wealthy has not increased and losing pace with the rest of the world. it doesn't matter to me italy hasn't grown the last 20 years. it didn't need to grow. a perfect place. >> it's a good place and political dysfunction is something that's been around 60, 70 years. the pasta is still good. >> not quite as rich but looking out at the most beautif beautiful -- right, your favorite place? feel rich. you're living rich. right. >> we'
there's a lot of controversy about how china is and what is the underlying strength of china. >> housing comes back here, better but doing better on a lot of fronts but we need trading partners. >> we need consumption of emerging markets to pick up. >> it won't be europe. >> we need asia and latin america. we need those guys to pick up. these things are all linked. if china doesn't pick up more meaningfully, there's the spillover back to brazil, spi spillover to all,...
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Feb 15, 2013
02/13
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that is also what is happening in india and china. and if you only concentrate on what happens in the west -- >> is this time next year going to be higher o lower? you say it's going to be higher? >> do you want to take another two dirps on it? >> wait a minute. higher than 1620 or -- >> than where it is now. >> no, i'm not doing that. above 2,000? i'll bet you -- >> no, not 2,000. above where it is now. >> you got me on a sucker's bet the last time, too. i didn't realize if you promise that you're going to tax 2% of the people and everybody else is going to get what you tax from the 2% -- i didn't realize you could do that to win an election. >> you miscalculated he's a great communicator. tremendous communicator. >> and a real uniter, too. >> no. but for the electorate, very strong. wait for the midterms. >> you saw the last midterms. we'll see. maybe we'll bet on that. >> seriously, just looking back, i think it is not only about rice, right? >> if you're buying futures or investing in it, it's about price. >> it's about portfolio
that is also what is happening in india and china. and if you only concentrate on what happens in the west -- >> is this time next year going to be higher o lower? you say it's going to be higher? >> do you want to take another two dirps on it? >> wait a minute. higher than 1620 or -- >> than where it is now. >> no, i'm not doing that. above 2,000? i'll bet you -- >> no, not 2,000. above where it is now. >> you got me on a sucker's bet the last time,...
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Feb 25, 2013
02/13
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in china, meantime, kfc is unveiling new quality control measures. the campaign follows a scandal of misuse antibiotic use by suppliers to fatten poultry. also, the new ceo of media group pierce i don't know says the financial sometimes knot for sale. these comments came after repeated media speculation about the newspaper's future at the company. >> i'm not saying it's for sale. first of all, everything is for sale. >> that's right. >> but i think it ultimately trades. >> next two years you're calling? >> i'm saying next two years and i want to say its trades to our competitor starts with a "b." >> oh, okay. >> bloomberg. that's my buyer. >> we'll keep an eye on it. >>> last week, the s&p closed down by zero. that was the first week in seven that the s&p has closed lower. the dow barely eked out a gain. and when i say barely, it was a gain of 0.1%. it ended above right on that 14,000 mark, which is a key psychological level. nasdaq was down about 1%. dow futures up by about 50 points. take a look at what's been happening in europe. that's following
in china, meantime, kfc is unveiling new quality control measures. the campaign follows a scandal of misuse antibiotic use by suppliers to fatten poultry. also, the new ceo of media group pierce i don't know says the financial sometimes knot for sale. these comments came after repeated media speculation about the newspaper's future at the company. >> i'm not saying it's for sale. first of all, everything is for sale. >> that's right. >> but i think it ultimately trades....
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Feb 4, 2013
02/13
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i just returned from china about 2 1/2 months ago. that's the economy we live in today. if i go back five decades ago we competed regionally and nationally. today we compete nationally and internationally. it is a global market. so, i think most governors understand that. >> governor, no question it seems like it makes sense to have this discussion about eliminating the loopholes that are there now, trying to simplify the tax code but we did just have someone write in on twitter who lives in washington state who says be ready for 9% sales tax like we have in washington and it goes up every year because that is a place where they've eliminated the income tax. what's your response? how do you make sure that doesn't happen? >> we believe in this very nominal financial concept that washington, d.c.'s never heard of, and some states. we don't spend money we don't have. and so we stay out of that trouble. we've always balanced our budget. we're not going to get into the same predicament as others. we've had a strong cash reserve, we'll maintain that. for when we face those tou
i just returned from china about 2 1/2 months ago. that's the economy we live in today. if i go back five decades ago we competed regionally and nationally. today we compete nationally and internationally. it is a global market. so, i think most governors understand that. >> governor, no question it seems like it makes sense to have this discussion about eliminating the loopholes that are there now, trying to simplify the tax code but we did just have someone write in on twitter who lives...
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Feb 11, 2013
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but, you still play-doh in china is still something you -- >> oh, yeah. if you look at the brands like a brand like my little pony. we've done a joint venture with discovery. we have the hub kids tv network. so my little pony is not only on the air in the united states, it's on the air in 10 countries around the world. there's a digital game so the kids can play, a mobile game with a game lock game from hasbro. >> is this my little pony right here? >> the biggest my little pony i've ever seen. >> got a little pony. >> razz-a-roo, they were all very small. >> this happens to be a big one. >> it's got a paul krugman unicorn. because i've called him a unicorn in the miest way. i didn't know if people like him existed anymore. >> this is a whole new theme about the crystal empire. >> unicorns do exist. >> and they have wings and they fly, too. >> this is first class -- >> this is a great example. my little pony is a great example. brand that was in the 80s, brought back, reinvented across all these different platforms. it's clear that kids want all those kind
but, you still play-doh in china is still something you -- >> oh, yeah. if you look at the brands like a brand like my little pony. we've done a joint venture with discovery. we have the hub kids tv network. so my little pony is not only on the air in the united states, it's on the air in 10 countries around the world. there's a digital game so the kids can play, a mobile game with a game lock game from hasbro. >> is this my little pony right here? >> the biggest my little...
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Feb 22, 2013
02/13
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china is flat. now check this stat out. this is amazing. people talk about central banks buying it, right? last eight quarters, central banks have been buying. guess what? they're in a losing position. if you take the central banks trade, you're out of your mind. and gordon brown sold what, 390 metric tons of gold at $252 bucks. so bottom line is that, to me, yeah, we're still going low. >> all right. yeah. i would basically take the other side of everything gordon brown did. >> i don't know how he ever -- >> wouldn't you? >> he was like -- i don't know where -- you know. he's like a poster child for bad decisions. i know -- >> he came back, it's amazing. >> i guess he won't be, you're trying to get him on the show, right? why you would -- it's like booking jimmy carter to talk about how to fix the country right now. we don't need -- anyway. boris. >> yes? >> my man. >> by the way -- top are calling that drop in gold, called it a couple weeks ago. >> that's what i was saying. as far as you go, currency, whatever you buy gold it's always den
china is flat. now check this stat out. this is amazing. people talk about central banks buying it, right? last eight quarters, central banks have been buying. guess what? they're in a losing position. if you take the central banks trade, you're out of your mind. and gordon brown sold what, 390 metric tons of gold at $252 bucks. so bottom line is that, to me, yeah, we're still going low. >> all right. yeah. i would basically take the other side of everything gordon brown did. >> i...
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Feb 26, 2013
02/13
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economy, and recovery in china. lower commercial aircraft r&d and recovering after. >> jason trennert, looks like there's a fair amount of bid for higher defense spending outside the united states. are there any companies within -- any defense companies in the u.s. that, let's say, would help japan or help other countries that may be seeking to increase their defense spending? >> well, yes. certainly, you know, saudi is buying a lot of weapons systems. you know, it's a plus for various companies, for example, in boeing's case, 41% of their defense backlog is foreign. it's going to rise. 28% of their defense sales. so it's definitely an offset to the headwinds of what's happening here in the u.s. >> okay. we're going to leave it there. thank you. appreciate it very much. >> terrific. thank you. >> coming up, steny hoyer, house minority whip, former leader. what it will take to avoid billions in spending cuts. ready to take effect this week. that interview is next, right here on "squawk box." (music throughout) why tu
economy, and recovery in china. lower commercial aircraft r&d and recovering after. >> jason trennert, looks like there's a fair amount of bid for higher defense spending outside the united states. are there any companies within -- any defense companies in the u.s. that, let's say, would help japan or help other countries that may be seeking to increase their defense spending? >> well, yes. certainly, you know, saudi is buying a lot of weapons systems. you know, it's a plus for...
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Feb 13, 2013
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make your mark with ink from chase. [ male announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. ♪ >>> good morning. welcome back to "squawk box" here cnbc. i'm joe kernen along with becky quick and andrew ross sorkin. u.s. equity futures up, pretty solid session yesterday. we didn't earmark know it was going to be. backup 50 points. we're only 1% of the way from a new high for the dow jones. our guest host this hour, westwood capital's len blum. in the next hour, famed noftor and billionaire real state tycoon sam zell. after the state of the union, he'll have comments i'm sure. plus, top-ranked money manager don yacthman, funds seeing
make your mark with ink from chase. [ male announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and...
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Feb 6, 2013
02/13
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big move for this currency pair which hasn't been as weak as people expected given the weakness in china over the last six months. again, signs of some weakness in australia's domestic economy. retail sales disappointing. the rabb could cut rates -- rba could cut rates. for a second, i'll go to sterling. up .1%. 156.55. you know how much people are watching, mark carney taking the helmet. the bank of england from a policy point of view. if he doesn't deliver on the stimulative measures, taking a more dovish stand, this could really take providence. other ways, if he does, this -- otherwise, if he does, this could go to 1.50. i'm trying ton root for that given my structural long dollar position. in trade today, european stocks are generally weaker. the euro/down down to 1.3537. despite the strength in the equity session, not fully carrying through on this side of the pond. >>. >> you're rooting for kareny to take stimulative actions which would reduce the value of the pound relative to the dollar and increase your buying power and structured long tradition. >> i'm trying not to take a str
big move for this currency pair which hasn't been as weak as people expected given the weakness in china over the last six months. again, signs of some weakness in australia's domestic economy. retail sales disappointing. the rabb could cut rates -- rba could cut rates. for a second, i'll go to sterling. up .1%. 156.55. you know how much people are watching, mark carney taking the helmet. the bank of england from a policy point of view. if he doesn't deliver on the stimulative measures, taking...